The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1887-12-27

the property amounting to $40, 900,
that so, 600 and over was then owing
to NJ. s Grinbaum & Co., factors and
agents of the plantation; that there
are no moneys of the deceased or OF
the partnership wherewith to pay
said debts or the interest on the
mortgages, and that a sale of the
plantation could not then be made
without great sacrifice of value.
That the executors and executrix
are not authorized by the will to
raise moneys by mortgage upon the
property of the testator or upon the
property or otherwise for the carry
ing on of the plantation and the pc
titioner is unable to raise money
therefor. The bin prayed for an
account TO be taken of all moneys
owing by said partnership, the as
sets of the firm, and of the separate
property of the deceased be mar
shalled, and that a receiver and
manager be appointed TO take charge
of, and carry on the plantation bust
ness until the same can properly be
wound up, and the said debts paid
out of the profits of said business or
from the proceeds to arise from sale
OF said property when the same can
be made without sacrifice, with power
in such receiver TO pay all rents,
taxes, expenses in respect to the
property and in carrying ON the said
usiness, and for that purpose to pay
such employees and agents rs may
be required, and 10 sell the sugars
and collect all moneys due or to be
due to the partnership business, to
pay the interest on the mortgages
and all other debts now owing or
which shall be incurred in respect of
said business and plantation, and
also 10 raise money to pay TO defend
ants for the use of said widow and
child until the final winding up of
said business, etc"
The executors, Brown and AIcKib-
bin, and Mrs. Unna, eXecutrix, were
made parties defendant and they an
swered, in the main admitting the
allegations and consenting to the APP
pointment of a receiver.
The mortgages were not made
parties to the bill nor did they APP
pear at any stage of these proceed
ings. The attorney for the petitioner,
Oscar Unna, also appeared for Messrs.
Grinbaum & Co., unsecured credit
ors. 1t was stated to the Court that
forced sale of the plantation would
be damaging TO the interests of the
parties interested, and that the prop
erty of the plantation was amply
sufficient for the payment of the
mortgages. Whereupon the Court
appointed W. f. Allen receiver, I'M
der a bond of SO. 900, with a salary
of S75 per month, to report quarterly;
and among other things the order
authorized the receiver to make such
contracts as he may deem proper for
obtaining money to be advanced for
carrying on said plantation, includ-
ing the usual and necessary OUTLAWS
thereon for labor, salaries, rents,
taxes and otherwise, and for the
sale of the sugars 10 be made thereon,
but no unusual OUTLAWS for improve
ments or otherwise upon said prop
erty, exceeding in any one item the |
sum of five hundred dollars shall be
made without the express approval |
Of this Court, etc.
The receiver made an arrange
ment with AIessrs. Gri. aum & Co..
the former agents to continue their
agency of the plantation and make
advances at a per cent commission |
and 8 per cent interest.
Contrary to expectation the plant
alton has run behind, owing to the
low price of sugar and certain de-
feets in the plant.
On the 18th April, 1887, the hold
ers of the second mortgage, Hender-
son and others, filed a bill to fore
close their mortgage, and an
order was made on the 18th April,
summons TO be served upon |
parties, returnable on the 29th July,
and further that call advances and
sums of money which may be made
to Mr.. w. F. Allen, the receiver of
this Court, now in charge of the
premises described in the said bill,
and all sums which may be expended
by him in keeping up said planta-
ton and preserving the crops of the
same, and in planting such new
crops as good husbandry may re-
quire, until a sale Of said property is
had under the order of this Court,
shall constitute q first lien upon said
premises, and shall be paid out of
the first moneys realized upon any
sale of said premises"
The proceedings in foreclosure
went along in the usual way and the
DlantatiOn was sold on the 5th Sep